Flipkart Receives Rs 1,700 Crore Income Tax Relief

The Bengaluru bench of the Income Tax Appellate Tribunal allowed Flipkart India Pvt.’s appeal against a Rs 1,700 crore tax demand.

At the heart of the issue were two demands: disallowance of expenditure incurred on the issue of the Employee Stock Option Scheme and addition of money spent on the creation of market intangibles.